Friday August 22, 2008 MYT 6:31:46 PM

PM announces reduced fuel prices

PUTRAJAYA: Petrol and diesel price will drop by between eight sen and 22 sen a litre from Saturday.

The price of RON97 petrol will be reduced by 15 sen to RM2.55 a litre from RM2.70, while RON92 would be 22 sen less at RM2.40, from RM2.62

The retail price of diesel would drop by eight sen to RM2.50 a litre.

Prime Minister Datuk Seri Abdullah ahmad Badawi announced the new prices in a statement after Friday's Cabinet meeting.

He said the prices were determined by taking into account the actual price from Aug 1 to 21 and the 30 sen per litre subsidy borne by the government while the subsidy for diesel, based on the new price, was 50 sen a litre.

"The cabinet decided to bring forward the enforcement date for adjustment of the new petrol price," he said.